Death Of The Middle Class: Homeownership Rate Drops To 29 Year Low As Average Rent Hits Record High

Tuesday, April 28, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
04/28/2015

Earlier today the US Census released its latest quarterly data, which confirmed that for what is left of America’s middle class, owning a home has become virtually impossible, with the homeownership rate tumbling from 64.0% to 63.7%, which is tied for the lowest historic print since the first quarter of 1986, with the only difference that then the trendline was higher. Now, as can be seen on the chart below, it isn’t. At this rate, by the end of the 2015 and certainly by the end of Obama’s second term, the US homeownership rate will drop to the lowest in modern US history.

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